Accord Mortgages updates residential range; Platform brings in five-year fix and cuts rates

Accord Mortgages updates residential range; Platform brings in five-year fix and cuts rates

 

The core range will have an average rate reduction of 0.05 per cent, with its two-year fixed rate purchase product at 85 per cent loan to value (LTV) falling from 2.39 per cent to 2.35 per cent.

The five-year fixed rate purchase product at 85 per cent LTV has also been reduced from 2.58 per cent to 2.52 per cent.

The lender’s five-year fixed rate for remortgage at 90 per cent LTV has decreased from 3.14 per cent to 3.25 per cent.

The products come with a £495 fee and free standard valuation. The house purchase products have £500 cashback, whilst the remortgage product offers £1,000 cashback.

There have also been a range of reduction to its 95 per cent LTV remortgage products, with its five-year fixed rate has fallen from 3.71 per cent to 3.67 per cent. It comes with a £495 fee, £750 cashback, free remortgage legal service and free standard valuation.

Jemma Anderson, mortgage manager at Accord Mortgages (pictured), said: “We’re pleased to offer this new range which offers even better value, especially for those with a smaller deposit. We hope that it will appeal to brokers and their clients looking for the best option to suit their individual requirements.”

 

Platform launches five-year fixed for £400,000 plus loans

The Co-operative Bank’s subsidiary, Platform, will bring out a five-year fixed rate product for loans above £400,000 and has cut rates by up to 0.36 per cent.

The five-year fixed rate will be available between 60 and 90 per cent LTV, with rates starting from 1.07 per cent. The minimum loan size has been pegged at £400,000.

The lender’s two-year fixed rate products will be reduced by up to 0.36 per cent between 70 and 95 per cent LTV.

Its two-year fixed rate at 60 per cent LTV, both those with a £1,499 fee and fee-free options, have been decreased by up to 0.05 per cent.

The lender has also cut its three-year fixed rate between 60 and 95 per cent LTV by as much as 0.28 per cent.

The rate for its five-year fixed products between 60 and 95 per cent LTV will fall by up to 0.43 per cent.